Brazil’s Gross Domestic Product (GDP) grew by 0.9% in the second quarter of this year (April to June), according to data released by the Brazilian Institute of Geography and Statistics (IBGE).
“GDP grew by 0.9% in the second quarter of 2023 compared to the previous quarter, and compared to the same quarter of 2022, it grew by 3.4%,” the state agency said in a statement.
By sector, industry grew by 0.9%, followed by services (0.6%), while the agricultural and livestock sectors fell by 0.9%. On the expenditure side, household consumption grew by 0.9% and that of the government by 0.7%.
Exports grew by 2.9%, and imports of goods and services rose by 4.5% compared to the first quarter of 2023.
Although the growth of 0.9% of GDP may be discreet, it is above the forecasts of the financial market, which in the last bulletin of the Central Bank forecast an expansion of 0.3%.
